Silver Range Resources Ltd.

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Barb

The Barb property is located in the Watson Lake Mining District in southeast Yukon, approximately 150 kilometres north of the town of Watson Lake. It consists of 21 mineral claims. The property is located on the eastern edge of the Finlayson volcanogenic massive sulphide district about 40 km east of the Wolverine silver-zinc-copper-lead-gold deposit of Yukon Zinc Corp.

The Barb property is mostly underlain by Devonian/Mississippian phyllitic rocks that form the western limb of a north-northwest trending syncline. The phyllitic rocks comprise two conformable units: a dark green to black unit and an underlying light grey, fine-grained unit. An extensive quartz-sericite schist unit, which is sulphide-bearing and of possible volcanic origin, occurs locally within phyllitic rocks, at the Money Zone.

Historic work on the property included diamond drill holes, geochemical and geophysical surveys. Base metal mineralization was first discovered in the late 1930s at the Money Zone. Between 1966 and 1991 various operators completed a total of 42 diamond drill holes at the Money Zone, where zinc and lead sulphides occur in pyritic layers within the quartz-sericite unit. The mineralized layers are clustered with two sub-parallel horizons that are typically 1 to 3m thick. The most recent historical resource estimate was reported by Sovereign Metals Corporation (Ikona, C.) , in 1977 and consisted of 533,434 tonnes grading 102.86 g/t silver, 6.1% lead and 4.6% zinc. This inferred resource was calculated using a polygonal model. The reader is cautioned that this is a historical resource estimate. Sufficient work has not yet been completed by Silver Range to categorize this as a current resource; however, data collected by previous operators is considered to be reliable and consistent with industry standards at the time.

The most recent work was an airborne electromagnetic and magnetic geophysical survey flown over the property in 1998. Several anomalous features considered to represent moderate to high priority targets were outlined as a result of the survey. One of the high priority geophysical targets is located immediately to the west and parallel to the Money Zone and is coincident with a previously identified induced polarization anomaly that has not been drill tested.

Qualified Person:

All technical information contained has been approved by Matthew Dumala, P.Eng., a geological consultant to Silver Range Resources and qualified person for the purposes of NI 43-101.
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